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HF 3437

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 03/13/2006

Current Version - as introduced

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A bill for an act
relating to market value credits; eliminating the reimbursement reduction for
cities scheduled for 2006; amending Laws 2005, First Special Session chapter
3, article 2, section 5.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2005, First Special Session chapter 3, article 2, section 5, is amended
to read:


Sec. 5. 2005 deleted text begin AND 2006deleted text end CITY AID PAYMENTS.


In 2005 deleted text begin and 2006deleted text end , market value credit reimbursements for each city payable under
Minnesota Statutes, section 273.1384, are reduced by the dollar amount of the 2003
reduction in market value credit reimbursements for that city due to Laws 2003, First
Special Session chapter 21, article 5, section 12. No city's 2005 deleted text begin or 2006deleted text end market value
credit reimbursements are reduced to less than zero under this section. To the extent
sufficient information is available on each payment date, the commissioner shall pay the
annual 2005 deleted text begin and 2006deleted text end market value credit reimbursement amounts, after reduction under
this section, to cities in equal installments on the dates specified in Minnesota Statutes,
section 273.1384.


new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end